Wednesday, December 31, 2008

Saturday, December 27, 2008

"Although non-fraudulent in intent, a pension fund can share some of the characteristics of a Ponzi scheme in that, except during the final period of the fund's life-span, the outgoing cash used in any month to pay pensions is usually taken from the incoming contributions of the active members of the pension scheme. In a year of poor equity returns such as 2008, a pension fund can often perform worse for its members than a Ponzi scheme."

Tuesday, December 16, 2008

Regarding Madoff, what I don't get is how he could have gone 50 years like that. I guess it helped that big banks, a lot of them European, got sucked into the greed as well. But still, seems to me his deal should have collapsed long ago as the image shows.

Monday, December 15, 2008

Particularly haunting in this article: "... my poor neighbor had all of her retirement money in a Madoff fund. All of it"

And something else that has been bugging me regarding the current meltdown regarding Retirees: don't blame the financial advisor if you got slaughtered because of the stock market: no financial advisor worth a durn would ever tell you to have a bunch of your money in stocks and then go and retire! Another mistake this lady made, evidently.

Yeah, I think Obama needed to answer questions about this.Just a hunch: not impossible that some of the Chicago political dirt might not have gotten scrubbed off clean for Obama's presidency. For the sake of our country, I hope it did.

Tuesday, December 9, 2008

I don't know about the rest of you, but for me, the stuff that is surfacing about Fannie Mae and Freddie Mac has me the most steamed about our current economic fun and games. I usually don't watch Hearings, but I am going to be tuned in to these. I say heads should roll... then again I said that about the Savings and Loan fiasco a couple of decades ago. I was dreaming.

About Me

THAT REALLY BOTHERS ME

I guess we will find out whether or not I should be blogging. But here goes; I really can get going on some of these things, so we'll put it out there and see if we get yawns, catcalls, or maybe some responses.